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<br />NEW ISSUE ~~
<br />``°'
<br />Interest on the Bonds is not exclud b~'rom
<br />of the Internal Revenue Code of 6, as alb
<br />all present Indiana taxes except°~ki~ Indi~~~{{
<br />~~~~~
<br />F ~
<br />OFFICIAL STATEMENT DATED JULY 14, 1988
<br />Rating: Requested from Moody's
<br />Investors Service, Inc.
<br />income of the owners thereof for federal tax purpoes under Sectio ~03
<br />In the opinion of Bond Counsel, interest on the Bonds is exe~~rom
<br />tnce tax. (See "State Tax Exemption" herein.) '~
<br />~~ o~~y
<br />->~" ~,~ ~
<br />~` ~1~'~ $5,685,000 ~~~'~ ~?'~~'!~; `~~4~
<br />hJ I H BEND, INDIANA, REDEVELOPMENT AUTHORITY ~.q~~, ,~ ~~~ ~~~~~
<br />(The "Authority") ~~~ ~~C~` Q0~
<br />TAXABLE LEASE RENTAL REVENUE BONDS OF ~~~~~~ ~p~
<br />(COVELESKI STADIUM PROJECT) ®~,`+~ ~
<br />(Unlimited Tai
<br />
<br />Bonds Dated: I st day of the month of original delivery of the bonds. Interest Due: Each March I and September I,
<br /> semiannually, commencing March I, 1989
<br />Anticipated: September I, 1988
<br />The Bonds will mature serially on March I and September I in the amountsnnd on the dates as follows:
<br />000 3-I -89 $285,000 9-I-91
<br />$225 $340,000 9-I-93 $410,000 9-I-95
<br />,
<br />000 9-1-89 295,000 3-I-92
<br />$240 355,000 3-I-94 $430,000 3-I-96
<br />,
<br />000 3-I-90 310,000 9-I-92
<br />250 375,000 9-I-94 50,000 9-I-96
<br />,
<br />260,000 9-I-90 325,000 3-I-93
<br />~ 390,000 3-I-95 $475,000 3-I-97
<br />y285,000 9-I-91
<br />Bonds are redeemable in advance of maturity, at the option of the Authority, on any .date, in whole or in part (in
<br />authorized denominations) in inverse order of maturity and within a maturity by lot from any funds made available for
<br />that purpose. All prepayments shall be at a price of par and accrued interest.
<br />The Authority was created pursuant to I.C. 36-7-14.5 for the purpose of financing local public improvements, including the
<br />Parking Facility, for lease to the South Bend Redevelopment Commission, pursuant to a Lease Agreement dated June I,
<br />1988. The Bonds will be secured by a Trust Agreement executed between the Authority and the Trustee, First Interstate
<br />Bank of Northern Indiana, N. A., and will be issued pursuant to the terms and provisions of said Trust Agreement and the
<br />authorizing Bond Resolution. The Bonds do not constitute a corporate obligation or indebtedness of the City of South
<br />Bend for which the full faith and creditor taxing powers of the City are pledged.
<br />Funds for the payment of the lease rental will be generated by the Redevelopment District of the City of South Bend (the
<br />"District") having the same boundaries as the City, from unlimited ad valorem property taxes assessed throughout the
<br />District.
<br />Bids must be for not less than $5,599,725 and accrued interest on the total principal amount of the Bonds, and must be
<br />accompanied by aNon-Collusion Affidavit and by a certified or cashier's check in the amount of $56,850, payable to the
<br />order of the Authority. The City will deposit the check of the Purchaser, the amount of which will be deducted at
<br />settlement.
<br />Bidders shall specify rates in integral multiples of I /8 or I /20 of I%, which rate or rates may not exceed 12% per annum.
<br />No rate for any maturity shall be lower than any prior rate. No debt .service on any date may exceed $499,000.
<br />The Bonds will be issued in integral multiples of $5,000, as requested by the Purchaser, and will be fully registered as to
<br />principal and interest. Principal payments on the Bonds will be payable at the principal office of First Interstate Bank of
<br />Northern Indiana, N. A., as Trustee under the Trust Agreement. Interest payments on the Bonds will be paid by check or
<br />draft mailed one business day prior to the interest payment date to the person in whose name each bond is registered on
<br />the fifteenth day of the month immediately preceding the interest payment date. The Bonds will be delivered to the
<br />Purchaser within 45 days following the date of their award. Delivery of the Bonds is subject to an approving legal opinion
<br />of Baker & Daniels of Indianapolis, Indiana.
<br />DEADLINE FOR BIDDERS TO
<br />NOTIFY OF INTENT TO BID: On or before July 19, 1988 (Tuesday) at 10:00 A.M. Eastern Standard Time
<br />(See Notice of Intent to Sell)
<br />ANTICIPATED SALE
<br />DATE AND TIME:
<br />Time and Date of Sale will be by notif"cation, anticipated
<br />to be July 26, 1988 (Tuesday) at 12x00 Noon, Eastern Standard Time,
<br />at the off'~ce of the South Bend Redevelopment Authority
<br />1200 Country-City Building, South Bend, Indiana 46601
<br />Further information may be obtained from SPRINGS TED Incorporated, Financial Advisor to the Issuer, 251 North Illinois
<br />Street, Suite 1510, Indianapolis, Indiana 46204-1942, (317) 237-3636.
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